Globus Medical, Inc. (NYSE:GMED) Shares Bought by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division raised its position in Globus Medical, Inc. (NYSE:GMED) by 6.2% during the 3rd quarter, Holdings Channel reports. The firm owned 3,751 shares of the medical device company’s stock after acquiring an additional 220 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Globus Medical were worth $268,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GMED. Ashton Thomas Private Wealth LLC acquired a new stake in Globus Medical in the second quarter valued at $33,000. GAMMA Investing LLC grew its holdings in Globus Medical by 254.5% in the second quarter. GAMMA Investing LLC now owns 631 shares of the medical device company’s stock valued at $43,000 after purchasing an additional 453 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in Globus Medical in the first quarter valued at $50,000. International Assets Investment Management LLC acquired a new stake in Globus Medical in the second quarter valued at $52,000. Finally, Mather Group LLC. acquired a new stake in Globus Medical in the first quarter valued at $69,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GMED. Barclays upped their target price on Globus Medical from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. BTIG Research increased their price objective on Globus Medical from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Truist Financial increased their price objective on Globus Medical from $78.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price objective on Globus Medical from $76.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company raised Globus Medical from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $60.00 to $78.00 in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Globus Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.20.

Globus Medical Price Performance

Globus Medical stock opened at $70.03 on Friday. The stock’s 50-day moving average is $70.54 and its 200-day moving average is $64.51. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 109.42, a price-to-earnings-growth ratio of 1.97 and a beta of 1.17. Globus Medical, Inc. has a 12 month low of $43.38 and a 12 month high of $74.21.

Globus Medical (NYSE:GMED) last released its quarterly earnings data on Tuesday, August 6th. The medical device company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.07. The company had revenue of $629.69 million for the quarter, compared to the consensus estimate of $615.33 million. Globus Medical had a return on equity of 8.70% and a net margin of 1.82%. The company’s quarterly revenue was up 115.9% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. Research analysts anticipate that Globus Medical, Inc. will post 2.84 EPS for the current year.

Insider Transactions at Globus Medical

In related news, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Ann D. Rhoads sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $70.36, for a total transaction of $1,055,400.00. Following the sale, the director now directly owns 42,884 shares in the company, valued at approximately $3,017,318.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Leslie V. Norwalk sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the director now owns 16,419 shares in the company, valued at $1,149,330. The disclosure for this sale can be found here. Company insiders own 18.54% of the company’s stock.

Globus Medical Company Profile

Globus Medical, Inc, a medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally. The company offers spine products, such as traditional fusion implants comprising pedicle screw and rod systems, plating systems, intervertebral spacers, and corpectomy devices for treating degenerative and congenital conditions, deformity, tumors, and trauma injuries; treatment options for motion preservation technologies that consist of dynamic stabilization, total disc replacement, and interspinous distraction devices; interventional solutions to treat vertebral compression fractures; and regenerative biologic products comprising of allografts and synthetic alternatives.